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BlackRock North American shelves tender offer

07 May 2015 07:52

BlackRock North American Income Trust's board has decided not to implement a semi-annual tender offer in July.

Over the six months to 30 April, the average discount to net asset value on a cum income basis was 6.8% and ranged from a discount of 3.6% to 8.8%. The current discount on a cum income basis is 7.5%.

The company said that following a shareholder consultation, the board has concluded that it is not in the interests of shareholders or the company to implement the semi-annual tender offer.

The board will continue to monitor the company's discount to NAV and use its buy back authority when appropriate, with the objective of ensuring that the company's shares do not trade at a significant discount to their NAV value.

Story provided by StockMarketWire.com

Related Company: BRNA

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